Power Supply
Swisher Electric is a member of Golden Spread Electric Cooperative, Inc., a consumer-owned public utility organized in 1984 to provide low cost, reliable, electric service for its 16 rural distribution cooperative members.
GS Electric Generating Cooperative, Inc., was formed in 1996 by Golden Spread as a wholly owned affiliate to engage in exempt wholesale generating activities. GSEGC is a 50 percent owner of the 480 megawatt Mustang Station, a natural gas-fueled combined cycle electric generating plant located near Denver City, Texas. Swisher Electric members are a direct beneficiary of GSEC's ownership of Mustang Station.
Oklaunion Electric Generating Cooperative, Inc. was formed by Golden Spread in early 2004, also as a wholly owned affiliate. Golden Spread was the successful bidder when AEP Texas Central Company auctioned a 7.81 percent ownership interest in the existing 690 megawatt coal-fired Oklaunion Power Station. Golden Spread intends to assign its rights under the Oklaunion Purchase and Sale Agreement to OEGC.
Yoakum Electric Generating Cooperative, Inc. was formed in early 2005, also as a wholly owned affiliate, to install and operate a new, 145 megawatt combustion turbine-generator for peaking service beginning in 2006. Golden Spread has purchased a turbine-generator and generator step-up transformer, and has entered into a contract for the engineering, procurement and construction (EPC contract) of the unit. Golden Spread intends to transfer the equipment and assign its rights in the EPC contract to YEGC.